Blackstone Group

The Blackstone Group is a private investment banking firm and describes itself as a "leading global investment and advisory firm." The Blackstone Group was founded in 1985 by a group of four, including Peter G. Peterson and Stephen A. Schwarzman.

The Blackstone Group has ties to American International Group, Inc. (AIG) and Kissinger Associates, Inc./Henry Kissinger. According to the Blackstone website, AIG acquired a 7% non-voting interest in the company in 1998 for $150 million "and committed to invest $1.2 billion in future Blackstone-sponsored funds".

"Blackstone has developed strategic alliances with some of the largest and most sophisticated international financial institutions. In addition to AIG, they include Kissinger Associates, Roland Berger & Partner, GmbH, and Scandinaviska Enskilda Banken," the website states. 

The company's Blackstone Alternative Asset Management unit handles $1 billion in hedge funds for pension giant CalPERS.

John Forbes Kerry 2004 campaign 'adviser' Roger C. Altman was Vice Chairman of The Blackstone Group from 1987 through 1992 "where he led that firm's merger advisory business". 

In December 2001, The Blackstone Group was appointed as Enron's principal financial advisor with regard to its financial restructuring. The company also advised Enron on "the Sale of its North American Power and Gas Trading Business to UBS". 

The Blackstone Group is also handling the restructuring of Global Crossing. 

Political contributions
Stephen A. Schwarzman, the Chairman, CEO, and Co-founder of Blackstone Group, is a Bush Pioneer (see Bush's Rangers) having raised at least $100,000 for Bush in the 2004 presidential election.

Lobbying
Blackstone Group spent $940,000 for lobbying in 2006. Five lobbying firms were used.

Personnel
Key executives:
 * Stephen A. Schwarzman, Chairman and Chief Executive Officer
 * Peter G. Peterson, Senior Chairman
 * Hamilton E. James, President, Chief Operating Officer
 * Michael A. Puglisi, Chief Financial Officer

Selected board members:
 * J. Tomilson Hill, President and Chief Executive Officer of the Funds of Hedge Funds group
 * Brian Mulroney, Member of the Board of Directors of Archer Daniels Midland Company
 * Lord Nathaniel Charles Jacob Rothschild, Deputy Chairman of British Sky Broadcasting Group

Contact information
New York The Blackstone Group 345 Park Avenue New York, NY 10154 USA Phone: +1 212 583 5000 Fax: +1 212 583 5712

London The Blackstone Group International Limited Stirling Square 5-7 Carlton Gardens 4th Floor London, SW1Y 5AD U.K. Phone: +44 20 7451 4000 Fax: +44 20 7451 4038 Web: http://www.blackstone.com

Related Sourcewatch articles

 * Thomas S. Middleton
 * Robert L. Friedman, Senior Managing Director
 * Sir Ronald Grierson - advisor